Allianz Direct’s Post

The Ripple Effect: How Auto Prices and Trade Policies Impact Insurance Costs Here are two key areas where these changes could directly impact auto insurance: Vehicle Prices and Total Loss Settlements Tariffs on vehicles and parts from Mexico and Canada could increase the cost of producing cars, which would drive up sticker prices for consumers. Since insurance companies base their payouts for total loss claims on the vehicle’s market value, higher car prices mean higher claim payouts. This increase ultimately leads to higher premiums for everyone, as insurers adjust their rates to account for the rising costs. Parts Costs and Repair Expenses Many auto parts used in the U.S. are manufactured in Mexico, a hub for affordable production. Tariffs would raise the cost of importing these parts, inflating repair expenses for damaged vehicles. Insurers would have to shoulder these increased repair costs, which would again be passed on to consumers through higher premiums. To protect consumers, policymakers must take a holistic approach, ensuring that trade policies do not inadvertently escalate the cost of owning and insuring a vehicle. By revisiting agreements like the USMCA, there’s an opportunity to strengthen North American supply chains while balancing affordability and innovation. How do you think these trade dynamics will shape the future of the auto and insurance industries? #Autos #InsuranceCosts #TradePolicy #USMCA #ConsumerImpact https://lnkd.in/gcDN9K6m

PUBLIC NOTICE!!! Please be informed that the previously announced new tariffs for motor third party which was to take effect from 1st February 2025, has been put on hold till further notice. In that light, the approved 2024 rates will continue to be in usage. #insurance #autoinsurance #insurancequotes #ghana

Think tariffs are just a trade issue? Think again! They could have a big impact on your wallet—especially when it comes to insurance. Here’s how: 💸 Higher Costs for Insurers: Tariffs on imported goods like steel and electronics could drive up costs for insurers. This means premiums for property insurance, construction, and even auto insurance could rise! 📦 Supply Chain Disruptions: Global trade tensions may slow down production and shipping, raising the risk of delays or damages. That could result in higher premiums for industries dependent on international trade. 📈 Inflation Pressure: If tariffs push inflation higher, you might see increased rates on commercial, health, auto, and home insurance as companies adjust to rising costs. 🌎 Global Trade Risk: Businesses engaged in international trade could face more uncertainty, leading insurers to charge higher rates on trade credit, shipping, and business interruption coverage. 💥 Economic Slowdown: A potential economic slowdown from tariff wars could result in insurers increasing premiums to cover broader risks. At the same time, businesses and consumers may scale back coverage to save money. Disclaimer: This post is not political—it's purely meant to inform! Understanding the impact of tariffs on insurance pricing can help you make the best decision possible when shopping for coverage. Now you’ll know why prices may be rising or falling. ⚠️ #Tariffs #Insurance #Economy #CostOfLiving #InsuranceRates #BusinessNews #Trade

How Tariffs Work

Everything you need to know about CROSS TRADE 🚚 WHAT IS CROSS TRADE? A shipment organised between two countries, none of which the seller is locally based in (please see diagram, it makes it easier to understand😂👇) AND WHAT ARE THE BENEFITS? 📈 You can access new markets without a physical presence 💰 Lower supply chain costs ⏱️ Shorter transit times 🔗 Higher efficiency in the supply chain ♻️ Reduced carbon emissions through optimised routes IS THERE ANYTHING I NEED TO CONSIDER? - You can use switch bills of lading to hide shipper/consignee details - An adequate marine insurance policy - Make sure you use the right incoterms to suit your shipment - Understand the benefits of any applicable free trade agreement Cross trade shipping can seem complicated, but with the right assistance it can be very beneficial for your company. As always, SEKO are here to answer any questions you may have 🙋 https://bit.ly/4dChZ8N

Learn how tariffs work, who imposes them, who pays them, and how tariffs impact the flow of products through the medical supply chain. Available from the #HIDALearningCenter! https://lnkd.in/dn-PNaGi #HIDAMemberBenefit #Tariffs #HealthcareSupplyChain #MedicalSupplyChain #HealthcareDistribution

Convictional will soon launch a Tariff Impact Assessment tool for physical goods companies impacted by impending US tariffs. It will be a single workspace where executive and finance teams can collaborate on analysis and decision making to most optimally respond to upcoming 20/60 tariffs. If you know anyone in a position of being impacted, email tariffs@convictional.com. #tariffs

Did you know that 70% of duty drawback refunds in the U.S. go unclaimed? 🤔 With changing tariffs and trade regulations, claiming your duty drawbacks has never been more essential for efficient cost management. 💰 Forceget’s Duty Drawback services help maximize your refunds by identifying all eligible opportunities and handling the complexities for you. 💪 Focus on your business, and let us optimize your duty drawback potential. 🚀 Contact us today to secure your refunds and streamline your supply chain. ⛓️ Don’t miss out on the refunds that are rightfully yours! 💸 #DutyDrawback #SupplyChainOptimization #CostManagement #Forceget

Allow your friendly Tariff Hippo to help you assess changes or impacts to the LDCT and GPT tariffs that are set to expire this year. Just a couple clicks and can review analytics.

Put your knowledge of tariffs to the test. We've put together 10 questions to check your knowledge about tariffs, and what might happen should new ones be suddenly enacted. #tariffs #customs #tradepolicy #quiz #supplychain